Eli Lilly: buys oncology firm for 110 million dollars
(CercleFinance.com) - Just a few days after agreeing to buy immuno-oncology company ARMO BioSciences, on Monday Lilly said that it will buy AurKa Pharma, another biotech firm that has a promising oncology compound.
AK-01, an Aurora kinase A inhibitor, is currently being evaluated in Phase 1 clinical trials in multiple types of solid tumor, the US drugmaker said.
AurKa Pharma was created by TVM Capital Life Science to develop the oncology compound, which was originally discovered by Lilly.
Under the terms of the agreement, Lilly will acquire AurKa for 110 million dollars, but AurKa shareholders are also eligible to receive up to 465 million dollars in regulatory and milestone payments.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
AK-01, an Aurora kinase A inhibitor, is currently being evaluated in Phase 1 clinical trials in multiple types of solid tumor, the US drugmaker said.
AurKa Pharma was created by TVM Capital Life Science to develop the oncology compound, which was originally discovered by Lilly.
Under the terms of the agreement, Lilly will acquire AurKa for 110 million dollars, but AurKa shareholders are also eligible to receive up to 465 million dollars in regulatory and milestone payments.
Copyright (c) 2018 CercleFinance.com. All rights reserved.